Clorox bids Venezuela farewell to Cramer's delight

Clorox's plans to exit the Venezuelan market might be a boon for the home cleaning products maker, CNBC's Jim Cramer said Monday.

"Venezuela won't let them raise prices. Getting out of Venezuela is the bullet that must be bitten by a lot of companies," Cramer said on "Squawk on the Street." "Everyone's gotta get out of Venezuela. Venezuela is confiscatory."

Adam Jeffery | CNBC

U.S. companies are interested in Venezuela because it has roughly 30 million people, but the South American country was never very friendly to business under Hugo Chávez, the country's longtime socialist president. Nicolás Maduro has been president of Venezuela since Chávez's death in 2013.

"This was a big market where everyone kind of felt, well hold on, if we hang on after Chávez, they will become part of the Western Hemisphere again," Cramer said. "They haven't. You don't want to be in Venezuela."